Stipend

The annual base stipend for Ph.D. students funded by Mayo Clinic for the 2024-2025 academic year is $40,000. The stipend is deposited electronically in the student’s bank of choice bi-monthly.

Incoming students will receive details on the process after matriculation. Students receive a 1099 at the end of the year for tax purposes. Taxes are not withheld from stipends — students are responsible for making quarterly estimated tax payments.

Student health insurance

All enrolled students are required to be covered by a medical insurance plan throughout their education program at Mayo Clinic. You have the option to either enroll in the student health plan offered by Mayo Clinic College of Medicine and Science (MCCMS) or opt out to enroll in a different insurance plan.

Students who choose to opt out must provide proof of acceptable health insurance coverage by June 30. Coverage must be maintained through June 30 of the following year.

Acceptable insurance includes:

• Parent employer group plan
• Spouse employer group plan
• Student employer group plan
• Military/veterans benefits
• Medicaid (for the state the student is studying and/or participating in clinical experiences)
• Medicare

Specific coverage details for each academic year is made available closer to each start date, but these are a few highlights as you start to consider your options:

• Student cost for individual insurance premiums is estimated yearly; the cost for 2024-2025 is $2,184/year. The remaining premium cost is subsidized by MCCMS.
• Premiums are billed quarterly throughout the academic year.

For students eligible for federal financial aid, that aid can be accessed to cover premium expenses.